vat credit

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 August 2010 what if proprietor is taking credit of vat paid on capital asset purchased on some assets and not on other assets.will this depend on assesse.

27 August 2010 It will be based on state vat act and Assets specifed in the VAT act




30 August 2010 yes this will be based on the proprietor concerned whether or not to take credit. we will also need to check whether credit has been validly taken on capital goods under respective vat act




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